Dow sinks 600 points after inflation reading hits 40-year high

CNBC ^ | 6/10/2022 | Jesse Pound

[Alberta's Child]

Your cash is losing 8.6% of its value annually at a minimum -- and that's if you accept the government inflation figures.

Don't quit your day job. LOL.

[Vigilanteman]

Right. FWIW, I worked THREE part-time jobs in 1979 and carried a full schedule of university classes. It is amazing the energy God gives you at that age.

I basically slept five hours a night, 1 am to 6 am and caught up a little on weekends when I had no classes and one part-time job.

The only thing that kept me sane was Ronald Reagan's radio program that came on just as I was driving from one job to the next. During the drive, I managed to snarf some supper and change clothes.

[CivilWarBrewing]

I know. This is what SUCKS about rampant inflation. It's a LOSE/LOSE proposition. Taking a distribution of IRA's and reinvesting in PM's or lead is worth considering.

And to think we're only in the infancy of our INFANT pRESIDENCY.

[Signalman]

31,497.95
▼ 774.84 (2.40%)
0849 PDT

[Vaduz]

IRA accounts go POOf

[Wally_Kalbacken]

That never gets old!

[1Old Pro]

Biden specializes in turning large fortunes into scraps.

[who knows what evil?]

Love the stock photo of the bald guy on the CNBC home page...ROTFLMAO!

[imabadboy99]

No more mean tweets

[Delta 21]

Stolen elections have consequences.

[Delta 21]

We gotta get Ultra Maga King back in the Whitehouse.

[Scott from the Left Coast]

The only way that I have found to ameliorate the Lose/Lose is to take the money I would have invested and pay down credit and loan debt of all kinds as rapidly as possible…making my nut as small as I can.

[HKMk23]

I have offsetting holdings in real estate that are way high-side still, but my stock portfolio is off nearly 20% since early January, and less than 2% of that was me taking money off the table.

[M Kehoe]

“Everything is fine.” - Biden

5.56mm

[Scott from the Left Coast]

My thoughts on what I’m doing is if I can’t make interest, I might as well not pay any…better to cut costs than try to gain in this environment.

[Vaduz]

Indeed not many countries he hasn’t pissed off with his war on oil and utopia green scam.

[cgbg]

“better to cut costs than try to gain in this environment”

That is always an excellent strategy during times of inflation—try to eliminate “extras” to keep your cost of living stable.